As 2011 drew to a close and we were busy getting ready to launch the FundingKnight website, the ONS were releasing their latest set of stats on the health of British business. According to their Business Demography report:
- Business “deaths” were up by 20,000, or 7.4%, between 2009 and 2010
- There was a small drop in the number of business “births”
- Resulting in the second consecutive year that business deaths have outnumbered business births.
What does that all mean? Well, in a nutshell, it means that every day, the number of British businesses fell by 171.
That’s bad news for the individual businesses involved, bad news for the local communities they served, bad news for the people they employed, and bad news for each and every one of us who has a vested interest in getting Britain out of economic turmoil as quickly as possible.
It’s also why we know that FundingKnight can help. We’re not here to replace the banks, but we do think they need some help servicing the needs of small businesses. We want to show people a better way to lend and borrow money that prioritises fair value for all and combines the best bits of traditional banking with the ease of doing business online.
We all know that marriages – or at least some very good friendships – are essential to propping up the actual birth rate. Well, we think a slightly different sort of marriage, one between savers who want a better return on their money and businesses who want a better way to borrow, can help turn things around for British business.
We’ll be using this blog to tell you a little more about FundingKnight and the opportunities we offer for companies in need of a business loan and for lenders in search of a higher savings rate.